Mr. Paul Gallagher:

Yes, I think he also said ... and you have raised that ... I'm not sure I would agree with that, Chairman, in the sense that that seems to me ... whenever you stop the guarantee, if you just leave it there, you will have a funding cliff, unless everything has righted itself. Everything hadn't righted itself but, as of middle of 2009, as you know, legislation was brought in to enable the period to be extended. As of December 2009, you had the ELG; 2010 they extended the period; 2011; 2013. So the fact that the funding would stop as of September 2010 was anticipated far in advance and measures were put in place to ensure a continuation of funding. And, in fact, the CIFS scheme itself, as you heard, was extended I think until December, and the application for that was made in good time, so measures were taken to avoid the funding cliff.